PowerBand Solutions Completes First Tranche of Private Placement

TORONTO, ON - PowerBand Solutions Inc., a leader in the automotive fintech sector, announced the successful closing of the first tranche of its private placement, originally declared on April 4, 2024. This first issuance involved 69,333,332 common shares at CAD $0.015 each, totaling CAD $1,040,000 in gross proceeds.

The funds from this tranche are earmarked for growth initiatives and general corporate needs, which include support for lease origination. The shares issued are subject to standard statutory hold periods as per regulations. This financial injection aims to bolster PowerBand's resources for its upcoming ventures and operational expenses.